A STUDY TO DEVELOP A PROCESS OF MATRIX SET FOR A NEW PRODUCT

Authors

  • Dr (Brig) A P Pandit MD (HA) DNB (H&HA), Prof & HoD, MBA (HHM), Symbiosis Institute of Health Sciences, S B Road, Pune-04
  • Dr. Ankita Ghosh BDS, Student, MBA (HHM), Symbiosis Institute of Health Sciences, S B Road, Pune-04
  • Ms. Vanshika Sengar BSc, Student, MBA (HHM), Symbiosis Institute of Health Sciences, S B Road, Pune-04

Keywords:

Product Development, Product Life Cycle, New Product Development, New Product Deployment

Abstract

Aim: The purpose of this study was to propose a framework of critical success factors, metrics, and tools and techniques for implementing metrics for each stage of the new product development (NPD) process.

Design/methodology/approach: To achieve this objective, a literature review was undertaken to investigate decades of studies on NPD success and how it can be achieved. These studies were scanned for common factors for firms that enjoyed success of new products on the market. 1

Findings: The paper summarizes NPD success factors, suggests metrics that should be used to measure these factors, and proposed tools and techniques to make use of these metrics. This was done for each stage of the NPD process, and brought together in a framework that the authors propose should be followed for complex NPD projects.

Research limitations/implications: Several different research directions could provide additional useful information both to firms finding critical success factors (CSF) and measuring product development success as well as to academics performing research in this area. The main research opportunity exists in implementing or testing the proposed framework.

Practical implications: The framework can be followed by managers of complex NPD projects to ensure success.2

References

I. Lisa Nielsen. Product Development Strategy. California, USA. April 2015.

II. Nadia Bhuiyan. Framework for Successful Product Development. JIEM, 2011 – 4(4):746-770 – Print ISSN: 2013.

i. Oxford, England. March 2013.

III. Rajiv Grover and Naresh K. Malhotra. Marketing Management of New Products. Ohio, USA. January, 2010.

IV. Luchs and Swan. New Product Strategies. Australia, 2011: p. 331

V. Daniel, R. (1961). Management data crisis. Harvard Business Review, Sept-Oct, 111-112.

VI. Lynn, G., & Reilly, R. (2000). Measuring team performance. Industrial Research Institute Inc., March-April 48-56.

VII. Scheuing, E. (1974), New product management. Hinsdale: The Darden Press.

VIII. Wendel Clark. Product Development Strategy for Mc Donald’s. New York, USA. Jan 2014.

IX. Rosenau, M., Griffin, A., Castellion, G., & Anschuetz, N. (1996). The PDMA Handbook of New Product development. John Wiley and Sons, Inc.

X. Souder, W. (1987). Managing new products innovations. Massachusetts: D.C. Health and Company.

Additional Files

Published

15-11-2017

How to Cite

Dr (Brig) A P Pandit, Dr. Ankita Ghosh, & Ms. Vanshika Sengar. (2017). A STUDY TO DEVELOP A PROCESS OF MATRIX SET FOR A NEW PRODUCT. International Education and Research Journal (IERJ), 3(11). Retrieved from http://ierj.in/journal/index.php/ierj/article/view/1404